Quote:
Originally Posted by BrownDrake
Banks push high ratio mortgages because they are CMHC insured. Those mortgages are really easy to sell and for a premium, backed by the Feds. Why do a mortgage where there is risk to the bank?
Like I said earlier - after +/- 2002 your banker went from the cheapest person you knew to the loosest. Many people have also bought large shacks and have been talked out of large down payments and into CMHC insured mortgages prior to the 1.0 million cap that was put in. Many people buying the mid range 600K to 900K with 10% down or less. "Keep your cash and invest it, money is cheap"
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Everything you post is based on your opinion and you haven't provided a single shred of research to back up anything you post. Many people have been talked out of large down payments.....where do you come up with this stuff????